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    • eveningontheground
    • By eveningontheground 26th Oct 18, 1:31 PM
    • 22Posts
    • 47Thanks
    Debt free by 2020!
    • #1
    • 26th Oct 18, 1:31 PM
    Debt free by 2020! 26th Oct 18 at 1:31 PM
    Hi guys! I've been lurking various diaries for a few weeks and this is my first post.

    I'm 24 and rent a flat with my partner in Scotland. We both work full time but neither of us make a massive amount (I'm on 19k before tax, he's 17.5k), and while neither of us owe catastrophic amounts of money, what we do owe is for sure holding us back from the future we'd like to save for. Right now we don't even want to commit to getting a cat until we know we can definitely afford it

    This diary is going to be focused on my own debt free journey for now.

    I currently owe 2300 between two credit cards. Both have high interest rates - they're really meant to be credit building cards and that was my intention when I applied for them, but I made some impulsive purchases this time last year and then had a couple of weeks off work due to illness. Before I knew it I was over the 2k mark in debt!

    We just moved into our new place in September so we've not been added to the electoral roll yet (apparently we won't be until December! ) and I have a recent credit rejection, so things aren't looking so great on the credit score front.

    My current plan of action is to pay off as much as I can for the next few months, and hopefully by then my credit score will have climbed up a little and I'll be eligible for a balance transfer card with a 0% offer on it. I use ClearScore and tried out Experian (although I think I'll cancel that before the free trial runs out). I have never been able to stick to a budget but I'm hoping that keeping this diary will help me. I'll fill in an SOA at some point to give more info but this post is long enough already lol.

    I'm going to a drag karaoke night tonight with friends and my aim is to not spend a single penny. No alcohol, last bus home (I get a 10 week ticket for the buses in my city). I've already paid 5 entry for the event in advance.

    I only have 17 in my bank account to do me until payday on Wednesday (I have a 100 overdraft but I don't want to use it unless I absolutely have to). Wish me luck!
    Last edited by eveningontheground; 26-10-2018 at 4:35 PM.
Page 2
    • eveningontheground
    • By eveningontheground 9th Nov 18, 2:23 PM
    • 22 Posts
    • 47 Thanks
    Thanks Paws! I'm really looking forward to getting away, in particular being away from my work lol.

    My credit rating has jumped up by 70 points on clearscore and that's with me still not being on the electoral register. I noticed that I was pre-approved for a 6 month 0% balance transfer card too, so I'm escaping a little interest with that, yay!

    I can't transfer the big card onto it unfortunately as it's through the same company as the balance transfer, which means my plans have changed. Instead of clearing the little one right away I've shuffled it onto the new card and set up a direct debit that will have paid it off in full within that 6 month period, without any further interest.

    This means my focus will now be on chipping away at the bigger card with my disposable income as I'll have 115 go into the other one automatically.
    CC1: 689.61/789.61 (started 29/10/18, last updated 31/10/18)
    CC2: 3120.00/1497.31 (started 29/10/18, last updated 12/11/18)

    Make Up to 10 a Day November: 125/200 total
    Bring Lunch to Work November: 7/19 workdays
    • eveningontheground
    • By eveningontheground 10th Nov 18, 7:37 PM
    • 22 Posts
    • 47 Thanks
    One step forward, one step back. Went out last night for a friend's gig, and what was meant to be one drink max turned into an Uber home at 3am after a fairly wild (by my standards) night. Spent lots of money on booze. Oops! So other than the London trip, no more social spending for me this month.
    CC1: 689.61/789.61 (started 29/10/18, last updated 31/10/18)
    CC2: 3120.00/1497.31 (started 29/10/18, last updated 12/11/18)

    Make Up to 10 a Day November: 125/200 total
    Bring Lunch to Work November: 7/19 workdays
    • ellie.52
    • By ellie.52 18th Nov 18, 9:27 AM
    • 23 Posts
    • 47 Thanks

    Just stumbled across your diary.

    I'm in a similar situation and hoping to have my debt cleared by 2020 too.

    Subscribing and cheering you on.
    • PawsForThought
    • By PawsForThought 19th Nov 18, 5:33 PM
    • 18 Posts
    • 40 Thanks
    Congrats on the credit rating and well done on shuffling money around so successfully - it's amazing what a little bit of concentrated effort can do and how much 'tidier' everything feels after

    I hope your wild night out (and 3am does sound really hardcore for me too, although I'm also in my twenties) was hugely enjoyable and that you've taken some fun memories - those unexpected nights are usually among the best!
    100 /2500 CC
    209/ 600 Car repair loan
    160/ 1600 Bank loan
    137.50 / 3300 Student finance
    606.5 / 8000 Total
    November NSDs: a very cool 6/8
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